New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-04-23
TIE NAVARRO FLATS, CASE
TESTIMONY GIVEN BY J. J. INCOME.


v,s PEI ATOMS WITH Mr.. DE NAvARRO-THE SUMS |
ADVANCED BY HIM TO THE LATTER
7 7 Mc(omb was at Hamilton Coles ONCE AGAIN
Yesterday, and with the aid oil LIS counsei 0eneiai
Thomas H. Hubbard, continued to show iurther cause
nv he should be permitted to torecose on the
$3.50 Flats for the two million dollars and more
which the company that built them owes to him.
George H. Adams present as the representative OF
the tenants OF these costly apartments, and ALMOND
Goodwin looked out for the interests OF jose 10
Navarro OF the Central Park Building Company
Mr. McComb stroked his cloee-cut gray Deard ano
lowered his bushy eyebrows as General HUBBARD re,
sumed his examination with particularly inVoi'ea
question as to the point where the millionaire
ors Testimony ended at the last sitting oeloie
Cole The photographer came to the rescue Win MS
notos and then Mr. McComb, taking out OF us
various pockets any number OF documents IN oiue anu
yellow envelopes and ping them In ms zap ran w
list of the large that he had advanced LOT tno
erectiop of the Navarro buildingt lie hao CONVEX
sation with Mr. de Navarro, he said on November X
1883 This was the first time he had noticed any
ireeularty in the proceedings, Mr. de Navarro having
everything in his hands and paying everything ny
personal check Mr. de Navarro then told hun that oe
was personally liable with himself tor oil the con-
tractors debts The witness had submitted the matter
TO counsel and found that this was so, ana ne re-
minded Mr.. de navarro OF the condit'ons uhoe "nou
he had made his subscription. MT de navarro nau
assured him that he would not, under any clroum-
tances he involve ed for more than bis subscription,
and az he was then involved Tor more he positlveiy
decued having any Thing further to do with the ous
mess. , ,c,
81 Informed him then and there" said MI McComo'
that had made Inv election to take my money oacA
with interest and at the same time resigned my
position as treasurer of the company. lie tneh PROM
ised me a guarantee, but never got IT, FROM THIS
tine there we're various conferences between NY
counsel WAYNE McVesgh, and Mr. de Navarros
runsc and Il resulted in the contract OF December
l."
The contract OF this date provided that the total co
OF the buildings and improvements was not TO eAceeu
S45OO,O00 but later on Mr.. dc Navarro 'houen' ~
woud be better to make the ample to cover every
thing and increased the figure to SoOOO,OOo MT.
de Navarro in reply to the witness sara lie oio not
think 1t would be necessary tor him to lind more thah
100000 in addition to the sum he had aireaoy suo'
ecrbed as he satisfied that the proceeds oil the
sale of the apartments finished and other amounts
from the insurance company would with TINS su'u 10
sufficient to cover the remaining cost
"Why did not the insurance companies take the
mortgages for S1OO,OoO eaeh on tnose ioui ouiiu
incs I" asked Mr.. Hubbard.
do not know" replied Mr.. McComb, with look
OF innocence. He remembered the agreement OF Janu
ary IA in regard to the Madrid. Before TINS MT oe
Navarro had suggested that individual cnecks snouiu
no LONGER be given but checks by The Central Park
Ruildiny Company Limited" 1t was suggested that
the mortgages should also be made by the company
direct to him. and TO this the witness consented. he
then his resignation as treasurer To take eneet
from he date of his verbal resignation. lie went on
making ad vances under the December agreement ana
ofie rud
they were objected to by Mr.. Goodwin, on the ground
that as the reference involved an accounting tne
original books OF account must be produced inns on
eeIion was finally overruled aud the receipts were
mt in They were signed by Jose de Navarro, pres-
dent, and W. A. G. Ewing, treasurer. There were
6fIyseven of these aggregating between 81 6cO,uoO
and 81. 700 OOO which with the $4O0, 900 subscrip
ton make up Mr. McCombs claim and every one OF
these receipts said the Witness Represented nakeo
cash and no commissions OF interest There were
nine OF them drawn on the same date January 49,
1854, aggregating $295, 544 80, these being pay
mepts made to contractors by the witness before !ha
date. Thea the receipts ran through 1904 to May
1888 the advances in The earlier month agsregstng
SI35,O00 When these receipts had been hied ur
WcComb prouuced four-months' promissory note Tor
each one bearing corresponding dates and also sgned
by Mr. de Navarro as president and Mt Ewing as
The corresponding eceipt tor SO, 90 81 only. The
witness said that the smaller sum was correct out lie
could not recall how the mistake came TO be nade.
When the mortgages were made 10 the Mercantile
Trust Company the witness spoke 70 Mr.. de Navarro
as to having bonds issued to protect builders claims
Mr. de Navarro proposed TO issue these bonds and
give them 10 him as security Part OF them he got and
the Others he did not get and be served notice on
the Mercantile Trust Company III regard TO his caim
on the bonds. .ooo
Article 3 Of the contract made In December, 1883,
read TO obtain upon the commercial Taper OF snch
nj lawful interest and per cent commission
per annu such additional funds shall be necessary
10 nav the contractors Tor work., aud further on IL
read And In case il should be necessary Tor ar Nc
(ouh To furnish credit security in order 70 raise
money on said paper, some substitute ior such paper
sbond he furnished by the company Inc witness
.aid he had offered the cOmpany's commercial paper
as collateral security tor loans but he unable to
Iorroy money on it, In fact he had borrowed on his
own personal credit and security ,
Mr. Goodwin objected TO this testimony on the
ground that no claim had been made Ter the . pei
cent commission.
A ,erter was then put in from Mr.. McCombs counsel
to Mr. de Navarro asking that the substitute to the
commercial paper should be furnished their client,
and Mr. de Navarro's reply that the Central Park
buildings were not completed. Mr. McComb upon
this gave evidence that he went over the VOL ana
found the matters specified in Mr.. de Navarros letter
q. Incomplete to be trivial and uconsequent Mr..
Good win objected TO this the ground that Mr. Nc
Comb was not expert, and al this point the case
was adjourned to next Friday.